Wealth Wednesday Q&A: Stacey Tisdale

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  • Why Should Young People Be Thinking About Wealth Building?
  • How Can Someone Avoid This Trap?
  • What are some early steps that someone can take right now to start building wealth?
  • Should homeownership be incorporated into a wealth-building plan?
  • 051613 national wealth wednesday q a stacey tisdale
  • 5th 3rd FlipbookCover wealthbuilding

What Are Some Early Steps I Can Take Now to Start Building Wealth?

Take advantage of every form of retirement savings that you can. This can be through an employer’s retirement plan or via a SEP-IRA or other self-employed retirement account. It’s also important to start an emergency savings account. Your entire financial future can derail quickly if a big expense hits at a bad time. The people who survived the recession were the ones who did two things: they had emergency savings and they didn’t have big debt loads.

Work towards keeping six months worth of expenses in a separate account that doesn’t get touched unless there’s an emergency. (Photo: Tetra Images/Getty Images)

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